10 June 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 10 June 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange (CSX) Index was up today by 0.51 points or 0.12 per cent to 409.06.
• The index is now finally up after eight straight sessions of a downward trend.
• Total trade volume was, however, very, very light, with only 62,722 shares changing hands, making up about only half of Friday’s trade volume last week. Total trade value was only 391.3 million Khmer riel, or roughly 95,000 US dollars.
• On the Main Board, the biggest percentage gain winner was Grand Twins International (GTI), up 0.88 per cent or 20 riel to 2,290 riel per share, followed by the Sihanoukville Autonomous Port (PAS), which was up 0.66 per cent or 80 riel to 12,280 riel per share. 
• The only other stock to see a percentage rise was CAMGSM or Cellcard (CGSM).
• On the other hand, the biggest loser of the day was Pestech Cambodia, down 1.76 per cent or 40 riel to 2,230 riel per share. 
• Other stocks to see percentage drops were the Phnom Penh Autonomous Port (PPAP) and ACLEDA Bank (ABC).
• In terms of trade volume, ACLEDA Bank was the market leader once again with 39,137 shares changing hands at a total value of around 71,000 US dollars, accounting for roughly 53 per cent of all shares trades.
• On the growth board JS Land saw a 0.77 per cent drop while DBD Engineering was up 0.45 per cent.
   
• In other market news, Royal Group Phnom Penh SEZ (PPSP) has announced it will be buying 405,000 of its shares back via auction trading over a three-month period from June to August 2024.
   
• The Khmer riel to USD continued to weaken to 4,111 riel per US dollar, while the US dollar index strengthened to 105.29.
• Oil prices edged up on Monday, buoyed by hopes of rising fuel demand this summer, though gains were capped by a strengthening of the dollar on receding expectations of imminent cuts to U.S. interest rates.
• Goldman Sachs analysts said in a report that they expect Brent to rise to 86 US dollars a barrel in the third quarter of 2024. Brent crude futures gained 16 cents, or 0.2 per cent, to $79.78 US dollars a barrel.
• Gold prices held steady, with spot gold unchanged at $2,296.17 US Dollars per ounce. U.S. gold futures fell 0.5 per cent to $2,313.30 US dollars.
   
• Over in Europe, shares were driven down after a strong showing by right-wing parties in the European Union elections, weighing on the euro and pushing up borrowing costs across the continent.
• As of the time of the Cambodian market’s closing, U.S. futures appeared to be set to open down after a strong jobs report on Friday diminished hopes that the Federal Reserve will lower interest rates this year.

Watch the 10 June 2024 market update in Khmer below: